Set your big goal and then work it backwards.
Over the years I've learned the importance of "just getting started." The action and the mindset cannot be dismissed. Yet, shortly thereafter you might be wise to take the time and figure out what your BIG Goal is. You could start the process with questions like these.
- What kind of life would I choose to live in 5 years? (Get detailed; What kind of car? Where will you live? What will your family structure be? How much money will you have in savings? What life will your business provide?
- What is the amount of money I'd require to make that life?
- Where would I choose to be in two years to make that life happen?
- Where would I choose to be in one year to make that happen?
- What would I choose to do each month to be where I choose to be in one year?
- What will I accomplish this week to hit my goals for this month that will allow me to be on schedule for this year?
- What will I do today...?
This goal setting exercise can work for any time frame. Let's say you are a full time professional at whatever you do, and you'd like to supplement your retirement with some real estate income. So you go out and buy a rental property and find it to your liking. Great!
When added to your social security and other investments that you are taking advantage of will one rental property add enough to your income to get you where you will feel comfortable with your retirement? If not, what is the rental income you will require? How many homes will that take? How much money will you have to invest?
See how this works?
Take a moment right NOW! to schedule on your calendar half an hour to get your Reverse Goal Setting started. And remember, I'm here to help.
Learn more about Chris @ ChrisLengquist.com